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Thursday, February 17, 2011

GDP growth in 2010 exceeded 6 %, hints PM

Published: Thursday February 17, 2011 MYT 11:11:00 AM
Updated: Thursday February 17, 2011 MYT 3:34:31 PM
GDP growth in 2010 exceeded 6%, hints PM

KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak hinted Thursday that the country's Gross Domestic Product (GDP) growth for 2010 may exceed 6%.

The official GDP figures will be announced Friday, he told reporters after officiating a programme to enhance Dewan Negara's activities, at Parliament House here.

Asked if Malaysia was capable of recording double-digit growth in future, Najib, who is also Finance Minister, said: "No, we cannot. Because you must remember that the Malaysian economy is much bigger than it was 20 years ago.

"As we approach to become a matured economy, we cannot get double-digit (growth) but we can get reasonably high. And, I think 6% is considered a very creditable performance.

"We have to be realistic. No developed nation can achieve double-digit."

Najib also said Malaysia was capable of attaining developed nation status and become a high-income economy in 2020 as the country was a major trading nation.

"I think we can (achieve the status), subject to the external environment.

"If external demand is not strong, then this can affect Malaysia's economic performance.

"If external factors are positive, we can attain moderately positive growth, though not phenomenal. God willing, it can be achieved," Najib added. - Bernama

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